Question

Compare and contrast the pay rate and growth of pay for human resource managers and financial managers.

-200 Words

-One or Two Sources

Answer 1

The human resource manager and Finance managers handle two very essential functions, but are also different in the scale, the type of impact they have, and the monetary benefits.

1. Finance is the life source for any business, without which no business can even exist for a few months. The finance manager does come with a very heavy task. Managing the working capital, ensuring collections and payments.

Since a finance manager can be directly linked to the financial success and failure of a firm, the benefits from the function is tangible and easily quantifiable. That is one of the main reasons why, after sales, finance is one of the most remunerative functions for a manager to be in. While one may question the fact that while the finance manager's results are actually the culmination of the efforts of several teams functioning in unison, one cannot take away the fact that the responsibility is a big one, and the cost control / budgeting results from a finance manager are easily observed.

2. Human resources development, while do not yield the tangible financial benefits so obviously, the function is definitely one of the most essential functions in an organization.

Some of the critical needs met by HR :

1. Employee Morale

2. Recruitment of key talent

3. Retention of talent

4. Development of talent, and training

So , since the Human resources is a function that leads to the most contribution in terms of quality staffing exisitng to make the revenue, and take the company to heights, and the manager should be correspondingly compensated.

While the change in treatment of HR management on par with business managers and financial managers, has alsready commenced in many organizations, the general trend is for the finance manager to earn a higher rate of pay.